Question: The information provided below illustrates the performance of funds X and Y as well as the Ft-All Share index over the last full year of trading:

You are required to set up and test the following hypotheses:

(i) Fund X has significantly outperformed Fund Y.

(ii) Fund X has significantly outperformed the FT All Share index.

(iii) Fund Y has significantly outperformed the FT All Share index.

(50 per cent of the marks)